No 3 (2016)
- Year: 2016
- Published: 30.09.2016
- Articles: 12
- URL: https://vektornaukieconomika.ru/jour/issue/view/25
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Description:
Published 30.09.2016
Full Issue
INTERNAL CONTROL AND RISK ASSESSMENT OF THE UNIVERSITIES’ ACTIVITY
Abstract
The problematic issues of creating a high-quality and reliable information base providing analytical support for management decisions can be solved by the creation of a system of internal control of a university activity. In the paper, it is determined that the internal control system should include the indicators to identify risks allowing giving signals to management about the necessity to respond to the problems occurred to the purpose of their further elimination. The author recommended developing the list of risks with a reasonable probability of their occurrence and potential impact, as well as submitted a form for risk identification in accordance with the needs of stakeholders combined into groups according to the process approach. Taking into account the stakeholders’ requirements and interests, the universities can achieve their greater commitment, trust, and loyalty. The system of control is placed before the challenge to carry out control procedures to monitor the degree of compliance with the stakeholders’ requirements. It is determined, that it is necessary to set control measures for each risk to manage them and guarantee correct and timely implementation of actions. Control measures should include the immediate monitoring of opinions and the stakeholders’ changing requirements. It is found, that within each event, the instructions or procedures should be defined. The author defined the role of internal controllers and auditors of the universities that can help in the identification, the assessment of risks and control procedures, and develop the appropriate techniques. Quantitative Risk Assessment can be performed basing on the economic formulas represented in the study and can be used to calculate the degree of risks in the universities’ activity. Understanding that the risks are primary and the control measures are the reaction tool, the response to the risk should be the basis of the whole management system.
5-10
INTERNATIONAL COMPETITIVE ADVANTAGES OF UNIVERSITIES
Abstract
In modern conditions of the market relations and the amplifying processes of the international competitive struggle it becomes very difficult for domestic universities to gain and later keep loyalty of applicants and students, both from Russia and abroad. In paper presents the analysis of current trends in education and conclusions on future results of these changes. Express analysis of opinions of the students who study at the international faculty of Financial University under the Government of the Russian Federation has revealed students’ ideas of a competitive university and allowed to determine what drawbacks a domestic university may have. Among the basic distinguished elements there are the following: a large-scale use of electronic devices in training process, convenient virtual educational space, a possibility of independent regulation of learning process, learning various subjects in foreign languages in all specialties, active interaction with foreign partner-universities, international recognition of the university brand, working consulting centers and agencies, etc. The research defines driving forces of the competition in education, which have been grouped in four directions: marketing, internal business processes, finance, and human capital. In general, the author identifies the following dominating forces in education sector: brand management, talent concentration, product and technological changes. The paper also determines the sources of competitive advantages of universities for the nearest future according to the built value chain. To perform quantitative assessment of the university competitive advantage, a special formula is suggested. The factors influencing competitive advantages of universities are revealed and sorted in four groups. Recommendations for increase of universities international competitiveness are developed, according to their core and auxiliary business activity, to determine strategic initiatives of universities.
11-17
THE MODEL OF ORDER-PICKING IN THE AUTOMOBILE MARKET AND THE ORGANIZATION OF THE PROCESSES OF SYNCHRONIZATION OF THE ASSEMBLY OPERATIONS IN THE CONVEYOR
Abstract
The development of production program at the automobile enterprise causes the necessity to consider the great number of factors, each of which influences significantly the economic efficiency and production feasibility. In this connection, the authors proposed the model of competitive interaction between the manufacturing enterprises in the selection of optimal production quantity, determined the conditions for the existence of the equilibrium price values, the products volume, the realization of which allows fulfilling the request for production of vehicles with a certain demand function. The considered general approach of the order picking in the market conditions is illustrated through the example of the model of competitive interaction between two enterprises. The authors suggested the approach allowing carrying out the assessment of the level of organization of synchronization processes of assembly operations by changing the working places when performing the assembly operation, changing the conveyor rhythm, and the assembly processes automation. Considering the fact that the change of parameters of production and technological potential depends on the measures implementation and the volume of investments in various types of the enterprise’s activity, the authors determined the functional relations between the values of the innovative-investment potential level and the results of the enterprise’s activity. On this basis, the authors determined the necessary and the sufficient conditions for the balance of interaction between the suppliers and the assembly production. The authors formed the criterion of the quantitative assessment of organization of synchronization processes characterizing the production and technological potential and the efficiency of the assembly conveyor operation, as well as the model of the task of decision-making on the selection of assembly production parameters ensuring the quantitative assessment of the level of production and technological potential for the organization of the processes of the assembly operations synchronization and the efficiency of the assembly conveyor operation. The obtained model of the task of decision-making on the selection of the assembly production parameters ensures the assessment of the level of production and technological potential for the organization of the assembly operations synchronization processes.
18-23
MODELING OF THE INTERRELATION BETWEEN THE GRP AND THE QUALITY OF LIFE
Abstract
The quality of life is one of the key indicators of the level of socio-economic development of the countries. The improvement of the quality of life in the regions of Russia is the important task of the government. Making forecasts to determine the quality of life after the application of management actions requires the establishment of the interrelation between the economic and social factors.
In this paper, the authors studied the dependence of the gross regional product per capita on the set of indicators characterizing the quality of life of the population of the regions of the Russian Federation.
The system proposed by A.Yu. Mitrofanov consisting of fifteen factors was chosen among various approaches to the assessment of the quality of life and the definition of the indicators characterizing it. The modeling was performed by econometric methods taking into account the panel data structure. Such structure occurs when studying a large number of objects for a certain period of time. The data of Federal Service of State Statistics are used as the statistical data for the econometric modeling. Panel Data processing is carried out using Stata package. In the case of multicollinearity of factors characterizing the quality of life, the authors used the component analysis in order to save the maximum quantity of information.
In the result of design and analysis of different types of models on the basis of the relevant tests, the authors selected an adequate model of panel data that meets the objectives of the study.
The results discussed in the paper represent one of the stages of the research related to the study of the relationship between the economic and social factors in order to obtain high-quality forecasts to determine the level and the quality of life of the population at the regional level due to the application of management actions.
24-28
EVOLUTION OF VIEWS ON THE ORIGIN OF THE SOCIO-ECONOMIC INEQUALITY: ANTIQUITY AND MIDDLE AGES
Abstract
The problem of social inequality appeared at the time of human society formation. Currently, it remains the priority challenge facing any state. In spite of all exertions of the scientists and practicians to find the ways for its decrease, the discussion strengthens. Some stick to the opinion that the inequality is a positive phenomenon allowing an individual to keep his motivation. The rest note that the inequality has many negative consequences both for the society and for the economy. The disputes on the optimal relation of the economic efficiency and social equity continue. There is no single interpretation in the understanding of boundaries of “true” inequality as well.
The successful solution of the problem at hand requires its comprehensive study and scientific justification taking into account the knowledge the thinkers of antiquity had. The study of their works, which are still on top of their relevancy, will promote very thoughtful analysis of the inequality origin and will allow coming closer to scientific understanding of the dilemma of efficiency and justice.
The paper considers the views of antique thinkers and scientists-scholastics of Middle Ages on the inequality origin. The author attempts to understand the inequality in the context of history and sets the task to distinguish the statements of great thinkers that are applicable to the realities of modern life. Special attention is paid to the consideration of negative consequences of the increase in the number of rich or poor citizens in the state. The author compares various types of state structure in the context of social inequality and proves the conclusion that new theoretical statements accumulating the achievements of related sciences will promote more thorough, comprehensive understanding of socio-economic inequality origin.
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THE INSTRUMENTS OF GOVERNMENT REGULATION OF BUSINESS ACTIVITY AS A FACTOR OF IMPROVEMENT OF BUSINESS ACTIVITY OF PRIMORSKI KRAI
Abstract
In the market economy environment, the efficiency of a particular industry of a region depends directly on the selected system of methods and instruments of government regulation of business activity. Currently, the process of the legislation base reforming is carried out extensively; the economic entities are given a wide package of benefits and preferences stimulating the growth of business activity and investment attractiveness of a region. One of the goals of government intervention in the economy is the support of the underdeveloped regions of the country. Thus, on October 12, 2015, the Law “Concerning the free port of Vladivostok” has come into effect that, to the experts’ opinion, is the effective strategy of support of business in a specified territory.
In this paper, the authors consider the issues that are important in recent years: how effective the mechanism of the economy regulation selected by the government is and what its influence on the business activity of Primorski Krai is.
The paper analyzes the efficiency of government regulation of business activity of Primorski Krai, in particular: the authors studied the theoretical aspects of government regulation of business, revealed the main tasks of the government intervention in the economy according to the directions of the economic policy of the country, studied positive and negative consequences of this intervention, defined the main tools of government regulation used for support of business of Primorski Krai, and analyzed the dynamics of key indicators of business activity of the region in recent years.
In the result of the analysis of such indicators as the quality of registered entrepreneurs in the region, the level of gross regional product, the fixed asset formation, and the average annual number of people involved in the economy of the region, the authors made the conclusion characterizing the level of efficiency of the instruments of regulation of business activity of Primorski Krai and the Far East in general, selected by the government.
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THE ASSESSMENT OF THE CURRENT STATE AND THE PROSPECTS FOR ECONOMIC COOPERATION OF RUSSIA AND CHINA
Abstract
The relevance of the study is determined by the necessity to develop cooperation with China, which corresponds to the main course of our state policy aimed at the modernization of the Russian economy, the diversification of foreign economic relations of the Russian Federation, in particular, the enhancement of its Asian vector. Russia has long-term plans related to the development of bilateral economic cooperation with the People’s Republic of China. The paper gives the details of the intellectual roots of the economic model focused on the economic cooperation in the sphere of trade and investments. The authors give the review of literature studying the relationship between trade policy and economic growth, as well as the incentives and the determinants of the geographical location of foreign investments. It is noted that all existing theories of trade and international capital flows are the subjects of scientific debate. However, virtually, all aggregate variables affecting the decision on foreign investments mentioned by the theorists have been confirmed in the investment cooperation between China and Russia. The paper reveals the dynamism and, at the same time, the unevenness of Russian-Chinese economic cooperation, as well as the dependence of Russia on the Chinese economy. The authors emphasize that the PRC is more advanced technologically and economically partner interested only in the energy investment projects in the Russian economy. This orientation of Chinese business will not solve the issues of the innovation underdevelopment of Russian economy and its strong dependence on the natural resources extraction. To overcome this negative trend, as a possible scenario of the development of economic cooperation between Russia and China, the organization of transnational cluster structures is proposed as the technological superiority is the basis of any cluster. The authors named the principal arguments in support of the development of the intercluster cooperation.
39-45
THE INTERACTION OF FINANCIAL AND CREDIT MECHANISM OF ECONOMIC ENTITIES ON THE PRINCIPLES OF MARKETING
Abstract
The state and the functioning of economic entities play the important role in the effective development of the economy of any country. However, they are not always able to carry out effectively their activities due to the limitations of their own financial resources, the lack of development of financial credit interaction mechanism. The paper reveals that the banking system cannot operate without the existence of banking market, the concentration of banking resources, banking products trade and the provision of their services. The authors give the definition of the concept of “banking product” as the complex of interconnected banking products and services and note that the funding sources are the basis of formation and implementation of financial and credit potential of a bank. Among these funding sources, the authors distinguish the financial resources that are the major component of the bank’s resource potential. It is shown, that the resource and financial and credit potential of a bank are interrelated and interdependent. The authors distinguish the elements of financial and credit potential of a bank in the context of the process of crediting and provide the model of the concept of the mechanism of financial and credit cooperation of banks and enterprises on the principles of marketing. Special attention is paid to the provision of financial and credit services to the enterprises in the process of financial and credit cooperation, which should be based on the analysis and study using the specific instruments of marketing of the enterprises’ real potential, capabilities, position in the market and business prospects. The study determined that, for the development of the mechanism of financial and credit cooperation, the financial and credit capacity of a bank should be considered as the resources determining bank’s ability to create banking products and develop crediting and associated with the enterprises’ demand for credit resources and the size of the bank’s resource potential taking into account the formation of necessary reserves.
46-50
SCIENTIFIC VIEWS ON THE PHENOMENON OF HUMAN CAPITAL FROM THE PERSPECTIVE OF THE INNOVATIVE DEVELOPMENT OF POST-INDUSTRIAL ECONOMY
Abstract
The concept of a post-industrial economy is based on the new system of capital and the economy’s innovative development when the changes of the dominant capital and labor character are the features of the global economic transformation. It is proved, that the human capital – accumulated knowledge, productive capacity of the population used in the economic activity – turns out to be a form of the social capital. In these circumstances, the course direction of the Russian economic policy aimed at the innovative development can be implemented due to the accumulation of human capital. It is proved, that the developed labor potential is a prerequisite to the formation of the human capital phenomenon. Knowledge and human productive capacity in the sphere of labor potential problems are of the interest from the perspective of a possibility to implement the economic goals, and in the sphere of human capital problems – from the perspective of a possibility to make a profit to its owner. Human capital is a profitable economic asset. The essential comparison of the economic categories of “intellectual capital”, “intellectual property”, “human capital”, and “non-material assets” allowed discovering that these categories are the core of the world’s innovative development affecting each other and providing mutual development. Human capital is the main component of the intellectual capital. The authors formulated two opposite scientific opinions on the human capital phenomenon: the theory of human capital as the reflection of objective law of social development and the theory of human capital as the product of political direction based on the objective economic law, the reaction to the challenges of a new era of technological transformations when the knowledge is the most progressive productive power of humanity and the owner of production means becomes dependent on a person who owns professional knowledge and labor skills.
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BANK CLUSTER: CONSEPT AND SPECIFIC FEATURES
Abstract
The modernization within the system of banking sector highlights the importance of the issues related to the system’s entry into a new level of development making banking institutions to set the tasks of the provision of credit and mortgage services availability for the population. Although, specified requirements cannot be implemented without banking cluster, which allows creating favorable conditions for the functioning of banking institutions offering lower interest rates for the loans to the population. This phenomenon attracts the studies of Russian and foreign scientists, however, the scientists still use various definitions of the concepts used. In connection with the above stated, the issue of the necessity of the detailed study of this activity arises.
The paper covers the study of the definition of the “banking cluster” concept. The authors carried out the theoretical study of the existing definitions of banking cluster showing that the relatively small number of works cover the study of this concept definition, and that the concept of “banking cluster” is absent in the Russian legislation today, and that different opinions are spoken out about its essence, the peculiarities of its denotation and the definitions of its content-related characteristics. At the same time, the complexity, the fragmentation of banking cluster definitions take place and it hinders the formation of the clear understanding of this phenomenon.
The paper highlights three basic characteristics of this concept, such as economic potential, political potential, and banking infrastructure. The authors considered functional features of the proposed characteristics that reveal the ways of optimal application of their opportunities in banking activity and carried out the decryption of three basic characteristics, each of them is disclosed by three concepts. According to the results of the study, the authors formulated the definition of banking cluster, which is based on the categorical method of two-level triadic decryption of basic concepts. The proposed definition is based on the specific characteristics of the cluster being formed within the banking sector and contributes to the development of the theory of clusters.
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HOLT–WINTERS MODEL: MATHEMATICAL ASPECTS AND COMPUTER IMPLEMENTATION
Abstract
Evaluation, modeling and forecasting of financial and economic indicators are the most complex problems while studying various economic phenomena. For the short-term forecasting of temporal series, the Brown model can be used. The Holt model can be applied if it is necessary to consider a trend without seasonality. However, the financial indicators studied often have the trend component and are subject to the seasonal fluctuations. Such processes can be adequately modeled by the temporal series including both the trend and the seasonal component (trend-seasonal temporal series). One of the most effective methods of modeling of trend-seasonal temporal series including the forecasting of economic phenomena indicators is the Holt–Winters model that is the evolution of Holt model. Its rather simple implementation in various packages of application software including the Excel electronic spreadsheets is one of the advantages of this model. However, when using this model, it is necessary to select the model’s parameters that can cause difficulties as the algorithm of this selection is not clear. In this paper, the authors analyzed possible algorithms used for the solution of similar tasks; however, their implementation is hardly suitable in the case under discussion. That is why the authors offer simple but rather effective algorithm including the minimization of the error functionality that is often used in the theory of artificial neural networks. The program implementation of this algorithm is rather simple and should not cause difficulties. The authors’ calculations showed that the particular set of model parameters can correspond to almost indistinguishable sets of expected model values and, therefore, the values of these parameters are nonspecific to the economic indicator under consideration.
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THE IDENTIFICATION OF THE PARTICIPANTS OF FISHING INDUSTRY CLUSTER OF PRIMORSKI KRAI USING THE RANKING SCORE METHOD
Abstract
Today, fishing enterprises of Primorski Krai are the part of the most powerful fishing industry of the Russian Federation. However, current tendencies in the development of these enterprises demonstrate such issues as the high level of commercial poaching, the absence of demand for domestic processed fish products in foreign markets, the high level of fixed assets depreciation. In general, these issues are caused by the disintegration of fisheries industry and the destruction of pre-existing industrial and technological links between the enterprises. The implementation of cluster forms of interaction between the industrial organizations will enhance the competitiveness of fishing managers in the industry and change the orientation of the commodity exports of fishery products for export of the products with the higher degree of processing.
In this context, the aim of this paper is to identify the industry leaders as the potential participants of this cluster based on the determination of current financial and economic situation of the enterprises in the fishery sector.
To achieve this objective, the authors carried out the rating of thirty-four leading fishing enterprises of Primorski Krai based on their accounting financial statements for 4 years. During the study, the financial ratios were calculated that helped to identify the issues of the functioning of industrial organizations and to develop the strategy for their solving. The analysis revealed the leaders among the large and small businesses, which could be the basis for the core of the fishing industry cluster. The proposed in the study methodology can be used to identify the potential participants of industrial clusters of different economic activities in the regions of the Russian Federation.
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